Vertical
machining relies on revolving cutters to eliminate metal from a work piece. It
is also recognized as milling. Vertical machining occurs on the vertical
machining center (VMC) that employs a shaft using a vertical orientation. With
an upright oriented spindle, apparatuses stick straight down from tool holder,
and cut across the top of a work piece. These machining is preferred where
three-axis (3 axis) work is done on a single face as in mold and die work.
3-axis vertical machining works on the 3 axes,
It is one of the most generally used techniques to form mechanical
parts, and can be used for automatic & interactive operation for instance
milling slots, drilling holes, and cutting sharp edges. 3-axis VMC have been leaders in machine tools
in aerospace, medical, die mold and energy industries. The key benefits are
included high efficiency, high spindle speed & rapid feed speed, increased
productivity, stability completing heavy-duty cutting and high volume or low
volume applications.
Based
on product type, 3-axis vertical machining centers market is segmented into low
speed type and high speed type. In addition, based on end-use industry, market
is segmented into aerospace manufacturing industry, machinery manufacturing
industry, vehicle engineering industry and others. Vehicle engineering industry
dominates the market owing to increase in need for high precision in the
production process.
The
3-axis vertical machining centers market is driven by rise in demand for
CNC-incorporated machine tools, followed by upgrade in emission standards, rise
in vehicle sophistication, increase in demand for fabricated products and rise
in investments in autonomous & electric vehicles manufacturing. However,
stringent regulatory framework, refurbished vertical machining centers, and
availability of horizontal machining centers may impact the market. Moreover,
growth in adoption of advanced manufacturing technologies is a major
opportunity for market.
Based
on geography, the European and North-American regions hold major share in
3-axis vertical machining centers market owing to increase in investments in
automotive manufacturing and presence of large manufacturers in the regions.
The Asian-Pacific region is estimated to witness higher growth rate due to
growth in economy, rise in population, and increase in disposable income of
consumers over the forecast period. In upcoming years, it is expected that
future of the market will be optimistic because of rise in development of
advanced manufacturing processes during the forecast period. The global market
is estimated to grow at a CAGR of approximately 1.0% over the next five years,
will reach US $6200 million by 2024, from US $5830 million in 2019.
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